BLBG: Gold Erases Gains in London as Crude Oil Drops, Dollar Rebounds
By Nicholas Larkin
Nov. 12 (Bloomberg) -- Gold erased gains in London as crude oil dropped and as the dollar rebounded against the euro, reducing bullion's appeal as an alternative investment and hedge against inflation.
Gold for immediate delivery lost $1.32, or 0.2 percent, to $730.39 an ounce as of 9:59 a.m. in London after earlier gaining as much as 1 percent. December futures declined $3.10 to $729.70 an ounce in electronic trading on the Comex division of the New York Mercantile Exchange.
To contact the reporter on this story: Nicholas Larkin in London at nlarkin1@bloomberg.net
